The European ruling accuses Qualcomm of paying billions to Apple from 2011 to 2016 in return for exclusive use of its modem chips, hindering other companies from competing in the wireless market.

“We are confident this agreement did not violate EU competition rules or adversely affect market competition or European consumers,” said Don Rosenberg, executive vice president and general counsel of Qualcomm. “We have a strong case for judicial review and we will immediately commence that process.”

The company said the European decision does not relate to Qualcomm’s licensing business and has no impact on ongoing operations.

Qualcomm shares were down less than a percent at $68 in early trading in New York.

Qualcomm Vows to Appeal $1.2 Billion European Fine Over Payments to Apple was last modified: January 24th, 2018 by Chris Jennewein

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